SAIC Takes Steps to Improve Strategy Execution
RESTON, Va.--(BUSINESS WIRE)-- As part of a broad, companywide restructuring designed to support Science Applications International Corp.’s (NYSE: SAIC) long-term strategy, the company announced today that it has consolidated several organizations and offered a voluntary retirement incentive package to approximately 100 senior managers.
Keeping its successful matrix operating model intact, SAIC has consolidated its five customer-facing customer groups into three and its six capabilities-focused service lines into three market segments.
Earlier this year, SAIC promoted Nazzic Keene to the new position of chief operating officer to oversee day-to-day operations and lead business execution; moved headquarters from McLean, Virginia, to Reston, Virginia, as part of an effort to consolidate SAIC’s office leases; and launched its first Technology Integration Gateway in Tennessee as part of an effort to provide its customers critical IT services in a more agile, repeatable, and cost-effective manner.
All of these actions collectively support the company’s strategy, called Ingenuity 2025, while also addressing near-term challenges SAIC faced in the first half of its fiscal year.
SAIC CEO Tony Moraco said, “Ingenuity 2025 continues to generate excitement across SAIC as we focus on key strategic growth priorities and bring clarity to the performance drivers and business model enablers that will help us achieve sustained profitable growth.”
SAIC is a premier technology integrator providing full life cycle services and solutions in the technical, engineering, intelligence, and enterprise information technology markets. SAIC is Redefining Ingenuity through its deep customer and domain knowledge to enable the delivery of systems engineering and integration offerings for large, complex projects. SAIC’s more than 15,000 employees are driven by integrity and mission focus to serve customers in the U.S. federal government. Headquartered in Reston, Virginia, SAIC has annual revenues of approximately $4.5 billion. For more information, visit saic.com. For ongoing news, please visit our newsroom.
Certain statements in this announcement constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties and a number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in SAIC's Annual Report on Form 10-K and other such filings that SAIC makes with the SEC from time to time, which may be viewed or obtained through the Investor Relations section of our web site at www.saic.com. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.
Lauren Presti, 703-676-8982